Aster DM Healthcare: Enabling access to world-class healthcare
ASTER CAPITAL TRIVANDRUM: Upcoming 749-bedded Quaternary care hospital
Aster has one of the region's largest healthcare networks, with 316 operating facilities across nine countries
By Dr. Azad Moopen
Published: Mon 14 Aug 2017, 6:00 PM
Last updated: Mon 14 Aug 2017, 8:00 PM
It makes me very proud to see that my country has become one of the fastest growing economies in the world today and is expected to maintain this momentum as it continues to lead the world through advancements across domains.
Today, India is the destination of choice for corporates and investors, as the country continues to offer a plethora of lucrative growth opportunities. There is no doubt that the country is experiencing huge advancement in the healthcare industry. Historically known for its traditional herbal medicine, Ayurveda medicine, India is now witnessing a wave of new and modern facilities, offering state-of-the-art healthcare services and improving the industry's infrastructure. With India's rising growth potential in the healthcare sector, we at Aster DM Healthcare are pleased to be one of the key players contributing to the expansion and development of the industry.
Currently estimated at around $100 billion, according to figures by Deloitte Touche Tohmatsu India, the healthcare market is expected to grow at a compound annual growth rate (CAGR) of 23 per cent, reaching $280 billion by 2020. As the country progresses economically and technological, we are witnessing an increasing demand for advanced, yet affordable, treatment options. This is also supported by an increasing per capita income, expanding reach of medical insurance coverage and increasing emphasis of the government to further develop the sector.
According to Deloitte's India 2015 Healthcare Outlook report, India has only one bed for every 1,050 patients, and will need to add 100,000 beds this decade, at an investment of $50 billion.
In order to bridge this large gap, both the public and private sector must invest heavily in the country's healthcare industry. While the Indian government is focused on providing basic or primary healthcare services, especially in rural areas, private operators have massive potential to expand in the secondary, tertiary and quaternary care.
Another fast-growing area within the healthcare industry in India is telemedicine, a technology, which I think, will transform the healthcare service delivery model, as we know it today. Due to its vast landscape and large number of population living in rural parts, telemedicine is expected to gain more momentum over the next few years. People living in remote villages and under-serviced areas will be able to access basic medical services through technology.
Internet penetration is on the rise in the country, and it will more than likely impact healthcare provision in India with the implementation of new tech; according to Boston Consulting Group, India will have more than 850 million online users by 2025.
For us at Aster DM Healthcare, we see this as an opportunity to contribute to India's growth story and help shape the healthcare sector. We started our presence in the Indian market in 2001 with the management of the Malabar Institute of Medical Science in Calicut, Kerala. The multi-specialty tertiary hospital, which was later rebranded as Aster MIMS, boasts of 678 beds and offers a wide range of specialized quaternary healthcare services.
Today, the group has 3,983 operational beds in 11 hospitals in five different states in India. Recently, we also announced that we are launching two hospital projects in Kerala located in Kannur and Trivandrum, as part of our continuous investment in the India market. Aster MIMS at Kannur and Aster Capital, suggested to be a multidisciplinary quaternary care hospital, at Thiruvananthapuram are in different stages of construction and planning. The proposal for the new 150 bed Aster Children's Hospital in Kochi is also in the planning and conceptualisation stage and will be located within the Aster Medcity campus. These new projects will add an additional 1099 beds in the next few years, further strengthening our position as a leader in the private healthcare sector in the state (Above numbers are as on March 31st 2017)
Our presence in the Indian market is not limited to healthcare provision; In 2011, we launched the DM Wayanand Institute of Medical Sciences (DM WIMS) with the aim of providing quality healthcare education, in an effort to address one of the industry's most pressing problems: lack of well-trained healthcare professionals, many of whom now work at our facilities across India and Middle East.
Philanthropy in India also continues to be a focus area for me personally and Aster DM Healthcare. As part of our 'Aster@30' campaign, marking the celebration of three decades since the company's inception, we aim further our efforts of giving back to communities in the region and, of course, India. Through a number of initiatives, including Aster Volunteers activities, Basic Life Support training, and Aster emergency app, we hope to contribute to and support the growth of healthier societies in India.
Having started from a single doctor clinic in Bur Dubai in 1987, to become one of the region's largest healthcare networks, with 316 operating facilities across nine countries, encompassing 19 hospitals, 95 clinics, 202 retail pharmacies, 19,615 employees including 2,161 full time doctors (as of May 2017); I look forward to expanding Aster DM Healthcare's presence in India.
On behalf of Aster DM Healthcare's employees, I would like to congratulate my countrymen on the 70th anniversary of India's Independence Day.
Dr. Azad Moopen is Founder Chairman and Managing Director of Aster DM Healthcare.